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"Currently, the priority target of monetary policy is to curb further slowing in the growth of the economy," said Yu Yongding, a senior economist at the Chinese Academy of Social Sciences.

"China's center of gravity in industry is shifting away from heavy industry more into automated industries and services," said Li Kai, general manager of Schneider Smart Technology Co, which was established in Beijing last week.

"China's smartphone market is forecast to drop 12 percent in 2018, which definitely weighed on all vendors, but it is worth noting that even within such a tough situation, Chinese players Huawei, Xiaomi Corp, and Vivo all managed to maintain growth in the first nine months of last year. In the same time frame, Apple, however, dived 12 percent," Jia said.

"Cle de Peau puts in a lot of efforts and investment in the R&D of its products, and it doesn't advertise much. The brand builds its reputation by word of mouth," said Neil Wang, president of consulting firm Frost & Sullivan in China.

"Coupled with ongoing urbanization and rising domestic demand powered by the Chinese government's measures to shift the economy to an internal consumption-driven model, the market potential in the Chinese mainland, particularly in lower-tier cities, continues to be attractive to jewelry retailers of all sizes," said Yang Lixin, director of the gemological training center for China's National Gem and Jewelry Technology Administrative Center.